There seems to be intentional manipulation of the price of JellyJelly coin, and the Hyperliquid treasury may face liquidation and losses
PANews reported on March 26th, according to @ai_9684xtpa monitoring, the $5 million short position in jellyjelly automatically liquidated by traders has already suffered a floating loss of $10.63 million. If the counterparty pushes the coin price up to around $0.17 (currently it is $0.16004), the vault will face liquidation and lose its current holdings of $240 million.
It seems that there are already funds deliberately raising the price of jellyjelly coins, which have risen by 230% in nearly an hour. What's worse is that Hyperliquid Vault's funds seem to be decreasing, which will further squeeze out the liquidation price.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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